With any fiscal event such as an Autumn Statement, decisions have to be made over where taxpayer funding goes.
At the dispatch box, the Chancellor of the Exchequer confirmed that support for our NHS and schools will increase by an extra £11 billion over the next two years.
Tough decisions taken mean Government can increase spending on schools and the NHS. An additional £4 billion in funding will go to schools and an additional £7.7 billion in funding will go to the NHS and social care sector over the next two years.
HM Treasury have confirmed that £2-3 billion in additional funding for the NHS is being provided in each of the next two years. This will go to further address issues including tackling the Covid backlog and improving access to GPs: causes I continue to pursue with ministers.
Through £2.8 billion next year and £4.7 billion the year after for adult social care, the number of people leaving hospitals on time and into care by 2024 will double. This will go to address unmet needs and boost low pay in the sector.
The Autumn Statement also confirmed £4 billion in additional funding for schools over the next two years.
The schools budget will receive a boost of £2 billion this year and £2 billion next year to help schools with rising costs as a result of inflation.
With this level of funding, the Government have confirmed it has fulfilled its pledge to restore per pupil funding to record levels.
At the last General Election I stood on a manifesto commitment to maintain the Triple Lock for the State Pension. The Triple Lock was protected in full by the Chancellor in the Autumn Statement.
This means that in April, the State Pension will increase in line with inflation: the biggest cash increase in the State Pension ever.
As we all know, one of the key reasons we are facing cost of living pressures at home is the situation in Ukraine, which has been invaded by Putin’s barbaric regime with little regard for the people of that country, ours, or anywhere else.
The national defence budget will continue to meet our country’s commitment to exceed two per cent of GDP. As we provide the Ukrainian people the support they need to ensure Putin fails, the UK is also galvanising the breadth and depth of British expertise to protect this country, our allies, and freedom itself. Earlier this month in Parliament I was pleased to highlight the importance of UK military backing for Ukraine including from Thales UK, whose base in this country is in Manor Royal.
Henry Smith MP